CM Hints at Drastically Revamped Industrial Policy

Thiruvananthapuram: Kerala’s new industrial policy would ensure ease of doing business in its true sense, according to Pinarayi Vijayan, State Chief Minister. “Kerala is far ahead in terms of human development index but the situation is such that the State is unable to utilise those capabilities for development. The upcoming industrial policy would bring about a sea change in the industrial scenario,” he said, speaking at the valedictory function of TRIMA 2016, the two-day annual management convention of Trivandrum Management Association (TMA), held recently. He also presented TRIMA Management Leadership Award to K Nanda Kumar, Founder-President and CEO, SunTec Business Solutions and TMA-KIMS best paper presentation award to M Sharon of Institute of Management in Kerala (IMK). S Ramnath, President, TMA; G Unnikrishnan, Secretary, TMA and DGM, KSIDC and Prasad Unnikrishnan, Director, KPMG Advisory Services, also spoke on the occasion.

 Promoting Enterprises

Local self-governing bodies in the State should be motivated to compete with each other in nurturing entrepreneurial ecosystem and creating more employment in tune with the State Government’s policies, according to Paul Antony IAS, Additional Chief Secretary, Department of Industries.

“There is intense competition among State Governments to attract more investments that would spur growth. But we hardly find this vigour among our local bodies. It is high time we motivated the leadership of local self-governing bodies to join the State Government in promoting industries. They should be made accountable for the number of enterprises and job opportunities created every year,” he said in his inaugural address at TRIMA 2016.

Paul Antony exuded confidence that the upcoming industrial policy would make a real difference in the ecosystem. “Besides single-window clearance and extended licence period, the Government will prescribe standard operating procedures (SOP) for each department in a bid to ensure accountability,” he said. He also stressed the need for setting up private industrial parks in the State as well as looking at the possibly of utilising the ports effectively to decongest the ever-increasing road traffic. He presented TMA-HLL CSR Award 2016 to Sobha Limited. Ramakrishnan P, Deputy MD, Sobha Limited, received the annual award in the presence of Dr. M I Sahadulla, Chairman, TRIMA Committee and CMD, KIMS.

 Insightful Sessions

Indian economy would witness a major course correction post demonetisation, leading to low interest rates and a low inflation regime, said S Gurumurthy, senior journalist and political commentator. Speaking at TRIMA 2016, he described demonetisation as a paradigm shift in the Indian economy but predicted a moderate economic growth for the next six months. He urged the Centre to take appropriate measures so that micro, small and medium enterprises would receive adequate financial support at the earliest.

“The asset-inflation driven or wealthy-effect-driven economic growth which took place in the country from 2004 to 2010 necessitated demonetisation. The GDP growth rate during the period was 8.5 per cent. Inflation stood at 6.5 per cent and by 2010, the current account deficit rose to $100 billion. Then, how did the GDP grow? It was driven by the unmonitored cash, which was circulating in the economy. While gold prices and stock market went up 300 per cent, property prices doubled every two years. A huge amount of money was operating outside the banking system and finding refuge in these assets which had shown a huge growth in value. When this asset prices were realised into cash, it got reflected in the GDP. Such a growth promotes consumption of high order. It had nothing to do with economic activities that would benefit the common man,” he said, adding that the decision has hit hard on terror funding and counterfeit note, and bribery.

Speakers at various sessions included M Sivasankar IAS, Principal Secretary, Department of IT; Biju Prabhakar IAS, Director of Agriculture; Pronab Mohanty IPS, Deputy Director General, UIDAI Regional Office, Bengaluru; T Balakrishnan, MD, INKEL; Santosh Kumar Mohapatra, Director & CEO, Adani Vizhinjam Port Private Limited; Jose Dominic, CEO, CGH Earth Group; Anil Kumar Pandala, MD, Thiruvananthapuram Road Development Company Ltd.; Kabeer B Haroon, MD, Clean Kerala Company Ltd.; Bindu V C, MD, Kerala State Women’s Development Corporation and M R Subramanion, Co-Chairman and MD, Adtech Systems Ltd. Destination Kerala was the magazine partner of the event.